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cchuba Wrote: Jun 24, 2012 4:51 PM
"Greece needs to break from the European Central Bank and institute their sovereign currency backed by silver -- " :-) :-) :-)
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cchuba Wrote: Jun 24, 2012 4:52 PM
Where is Greece going to get all of this silver, with their worthless new Drachma's?
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MG formerly minnesotagrandma Wrote: Jun 24, 2012 9:44 AM
Did you READ this column? I am all for Greece breaking from the EU but if they are not going put austerity into place(REAL austerity not whining half measures) they can't. It is their SPENDING that keeps them hostage. Don't spend what you don't have and you won't have to borrow.
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As Greece, and now Spain and Italy, struggle with the crushing burden of debt brought on by the modern welfare state, perhaps we should shift our gaze some 1,200 miles north to see how austerity can actually work.
Exhibit #1 is Estonia. This small Baltic nation recently had a spate of notoriety when its president, Toomas Ilves, got into a Twitter debate with Paul Krugman over the country's austerity policies. Krugman sneered at Estonia as the "poster child for austerity defenders," remarking of the nation's recovery from recession, "this is what passes for economic triumph?" In return, President Ilves criticized...
Austerity Works